YAMAHA MOTOR: Consolidated Business Results Summary — Full Fiscal Year Ended December 31, 2021 —

IWATA, Japan--(BUSINESS WIRE)--Yamaha Motor Co., Ltd. (TOKYO:7272) announces its consolidated business results for the full 2021 fiscal year.

Net sales were 1,812.5 billion yen (an increase of 341.2 billion yen or 23.2% compared with the previous fiscal year) and operating income was 182.3 billion yen (an increase of 100.7 billion yen or 123.3%). Ordinary income was 189.4 billion yen (an increase of 101.7 billion yen or 116.0%) and net income attributable to owners of parent was 155.6 billion yen (an increase of 102.5 billion yen or 193.1%). These represent the Company’s highest figures ever for net sales and income. For the fiscal year, the U.S. dollar traded at 110 yen (a depreciation of 3 yen from the previous fiscal year) and the euro at 130 yen (a depreciation of 8 yen).

Thanks to higher unit sales as well as the increase in unit purchase prices, net sales increased despite the impacts of lower production, labor shortages, and more brought on by the supply shortage of semiconductors and other parts. Operating income rose significantly in part due to the increase in sales but also due to the curbing of fixed costs through the implementation of remote work and other digital methods, foreign exchange impacts, and other factors working to absorb the effects of soaring logistics costs and raw material prices.

Forecast of Consolidated Business Results for the Fiscal Year Ending December 31, 2022

Net Sales	2,000 billion yen (an increase of 187.5 billion yen or 10.3% from FY2021)
Operating Income	190.0 billion yen (an increase of 7.7 billion yen or 4.2% from FY2021)
Ordinary Income	190.0 billion yen (an increase of 0.6 billion yen or 0.3% from FY2021)
Net Income Attributable to Owners of Parent	130.0 billion yen (a decrease of 25.6 billion yen or down 16.4% compared with FY2021)

These forecast figures are based on the U.S. dollar trading at 113 yen during the fiscal year (a depreciation of 3 yen from FY2021) and the euro at 128 yen (an appreciation of 2 yen).